Three issues papers published by the Reserve Bank of New Zealand – Te Pūtea Matua have drawn strong support for ensuring cash remains available and accepted, and for the Reserve Bank taking on a broad stewardship role for money and cash.
“Feedback also reinforced the importance of the privacy aspects of central bank money, and that this should be a critical feature of any potential Central Bank Digital Currency (CBDC) for New Zealand,” says Ian Woolford, Director of Money and Cash.
The Reserve Bank has today published a Summary of Responses to three 2021 Future of Money – Te Moni Anamata issues papers. The papers canvassed issues and options for: the Reserve Bank’s developing role as steward of money and cash, a potential CBDC for New Zealand, and redesign of the cash system to ensure it remains viable for as long as needed and wanted.
“We’re grateful for the valuable views, insights, and ideas on the issues and initial proposals raised in the public submissions,” says Mr Woolford, “which we will factor into the next stages of our work.”